Ross Stores grows earnings, but trims outlook 

Pleasanton, Calif. – Off-pricer Ross Stores reported solid third-quarter growth – and record earnings year-to-date – but shaved its full year EPS projection to “the range of $2.26 to $2.32, for a projected increase of 19% to 22% over $1.90 in fiscal 2007,” said Michael Balmuth, vice chairman, president and ceo.

Guidance three months ago was for full year earnings of $2.33-$2.38, which would have been an increase of 23% to 25% over 2007.

Quarterly sales of $1.56 billion for the period ending Nov. 1 were 6% above $1.47 billion; comps were flat. Earnings of $57.3 million, or 44 cents per share, were up from $48.7 million or 36 cents per share one year ago.

For the nine months year to date, the 963-unit retailer saw EPS of $1.57, up 30% from 1.21 in the year-ago period. The $208.0 million earnings to date was a record.

Year-to-date sales were up 10% to $4.75 billion, with comps up 3%.

Balmuth noted that the company has prospered this year by successfully executing its closeout-based business model, and by substantial cuts in inventory and expenses.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT Cover October 2017

See the October 2017 issue of Home & Textiles Today. In this issue, we look at the Top 25 Online Retailers.  H&TT's exclusive annual ranking of the biggest online sellers of home textiles finds that while pure play etailers continue to fly, bricks & clicks are digging into omnichannel. See details!